A net worth estimated at US$2.8 billion by Forbes defined the commercial legacy of Stein Erik Hagen upon his death in May 2026. A central figure in the Norwegian business landscape, his career spanned retail expansion, large-scale industrial investment, and the accumulation of significant corporate holdings across several decades of active management and strategic ownership.
Retail Origins and Expansion
Born in Oslo in 1956, Hagen pursued his education at the Kjøpmannsinsituttet, an institution now integrated into the BI Norwegian Business School. In the 1970s, he partnered with his father to establish the RIMI discount store chain. He further expanded this footprint in the 1990s by founding Rimi Baltic. He maintained ownership of these retail assets until the early 2000s, at which point he executed a sale to the Swedish firm ICA and Ahold.
Twenty questions, eight minutes on the clock, and a percentile measured against everyone who has taken it. No sign-up.
Take the IQ test →Strategic Industrial Interests
Following the divestment of his retail interests, Hagen reallocated the bulk of his capital into the industrial conglomerate Orkla. Beyond his role as chairman and major shareholder of Orkla, he managed his extensive business portfolio through his family company, Canica. Through this entity, he controlled substantial stakes in various enterprises, including Steen & Strøm, Jernia, and the e-commerce retailer Komplett.
Political Contributions and Public Profile
Hagen engaged in political financing over a period spanning two decades, beginning with support for the Liberal Party during the 2005 Norwegian election. Starting in 2006, he diversified his financial backing to include the Conservative Party, the Christian Democratic Party, the Liberal Party, and the Progress Party, continuing these contributions until 2026. His private life drew public attention in 2015 when he discussed his sexuality on the talk show Skavlan. In November 2025, he married Bendik Skinningsrud, a cardiac specialist.
Fast facts
- Born: 1956, Oslo, Norway
- Died: 4 May 2026
- Education: Kjøpmannsinsituttet
- Key Ventures: RIMI, Rimi Baltic, Orkla, Canica
- Net Worth: US$2.8 billion (May 2026)
- Spouse: Bendik Skinningsrud
Questions readers ask
What were Stein Erik Hagen's primary business holdings?
He was the chairman and a major shareholder of Orkla and held significant stakes in companies such as Steen & Strøm, Jernia, and Komplett through his family firm, Canica.
How did Hagen influence the retail sector?
He co-founded the RIMI discount store chain in the 1970s and later founded the Rimi Baltic chain in the 1990s, managing these until selling them to ICA and Ahold in the 2000s.
Achievements
- Educated at BI Norwegian Business School
